East China’s Jiangsu province reported a year-on-year increase of nearly 30% in the turnover of technology contracts in the first quarter, latest statistics show.

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The latest statistics show that in the first quarter, Jiangsu registered 12621 technology contracts with a transaction value of 59.138 billion yuan, a year-on-year increase of 29.38%.

The continuous growth of technology transactions is attributed to the increasingly improved technology transfer services in Jiangsu.

Through online matching on the provincial technology property rights trading market online platform, Nanjing Hechuan Construction Engineering Co., Ltd. paid 4.2 million yuan to obtain two exclusive patent licenses from Nanjing Glass Fiber Research and Design Institute.

In order to seek technical cooperation, the company spent 2 years searching for new products that could open up the market, which was time-consuming and labor-intensive but had poor results. This year, by participating in technology demand recruitment, negotiations and licensing were completed in just one month.

“This product from the Fiberglass Institute perfectly meets the requirements for new building materials. We are putting it into production this year and are expected to achieve an annual sales of around 20 million yuan, which will greatly promote our development,” said Cui Xudong, Deputy General Manager of Nanjing Hechuan Construction Engineering Co., Ltd.

Chen Yang, Assistant to the President and Director of the Innovation Center of Nanjing Fiberglass Research and Design Institute Co., Ltd.

The technology property rights trading market has played a bridge and link role as a platform, prompting us to accelerate the transformation of patented technology. Our achievements can not only lead the industry, but also shift to the industry, utilizing our shared technologies to serve industry development.

Since the beginning of this year, with the continuous deepening of scientific and technological system reform and the implementation of policies for the transfer and transformation of scientific and technological achievements, enterprises in Jiangsu have continuously improved their ability to accept new technologies, making the integration of science and technology with the economy closer.

In the first quarter, the electronic information industry ranked first among various technological fields, with a transaction volume of 16.433 billion yuan, a year-on-year increase of 18.42%, accounting for 27.79% of the total transaction volume.

Advanced manufacturing and biopharmaceutical fields ranked second and third, with transaction volumes of 15.156 billion yuan and 11.772 billion yuan respectively. The advanced manufacturing sector continues to grow, with a year-on-year increase of 41.39%.